Coral Reef

On the territory of the multifunctional complex Dubai Maritime City, the luxury residential complex Coral Reef has been constructed by the leading developer DAMAC Properties. It offers apartments ranging from 1 to 3 bedrooms. Special attention has been given to creating a unique interior with a maritime style, taking inspiration from coral reefs. The skyscraper stands at a height of 36 floors. The design is led by a large team of specialists in collaboration with the renowned French artist Vincent Fodemer. The completion of all construction and renovation works, and the commissioning of the facility, is planned for early 2028.

Depending on the chosen number of rooms, the apartments range in size from 72 to 169 square meters. From their balconies, apartment owners can enjoy unique views of tropical gardens and the Arabian Gulf.

When investing in Coral Reef apartments, foreigners can obtain a 2-year visa if the apartment’s value is at least AED 750,000 (USD 204,000). To acquire a ‘Golden Visa,’ which is valid for up to 10 years, the property’s value must be at least AED 2 million (USD 545,000). Both visa types automatically extend to the apartment owner’s family members (first-degree relatives are considered). The advantage of the ‘Golden Visa’ is that it also applies to the supporting staff that the foreigner can bring to Dubai.

Additionally, the occupancy rate for one-bedroom residential apartments in the Dubai Maritime City area is around 4.8%. As for annual rent, the starting cost begins at AED 85,000 (USD 23,000). This purchase is made with a perspective on the future, as the area is actively developing, and as it grows, the return on investment from renting out the apartments is expected to gradually increase.